9 Survival Rules for Short-Term Trading in the Cryptocurrency Market!
1. You must learn to wait; contracts are like playing hot potato; after the excitement, there will be a correction, and after panic comes reversal. Use 20% of the opportunity to earn 80% of the profit, this is an irreversible law of the market.
2. Never go in heavy; heavy positions can lead to emotional trading, creating a vicious cycle. Losses are normal; the key lies in your mindset and finding new opportunities. To make a profit, prioritize capital preservation.
3. Be cautious when buying; do not be impulsive due to a straight-up surge. In a major trend, there are plenty of opportunities. Use a combination of indices and sentiment to make judgments.
4. Be decisive when cutting losses; if the outcome is not as expected, make a quick decision, and do not waste time on losses. It’s better to look for new opportunities.
5. Withdraw profits after big gains; large profits often indicate extreme market enthusiasm, and a correction is imminent. Timely withdrawals can cool off the frenzy and add color to life.
6. Respect the market; do not judge the market subjectively. If the funds have not chosen a direction, there is no need to hold on stubbornly. Engaging in a direction recognized by the market is the right path.
7. Do not take over after a peak; the market has reached its high, the game of passing the hot potato is about to end. Who will take over the next day?
8. Try not to trade in the afternoon; the short-term situation in the morning has become clear, and you should have acted when the time was right. Streamline your trading to avoid unnecessary entanglement.
9. Persist in reflection and summarizing; failure is not scary, but not learning from it is. Let each failure become the foundation for success, so you can go further and further.